ING: Azerbaijan's foreign trade surplus to exceed $11B in 2026

Azerbaijan's foreign trade surplus in 2026 is forecast to reach $11.7 billion, equivalent to 14.4% of the country's gross domestic product (GDP), Report informs, citing the Netherlands' largest banking group, ING Group.

According to the group's estimates, Azerbaijan's export revenues in 2026 will amount to $29.1 billion, while the volume of imports will stand at $17.4 billion. A moderate reduction in the positive trade balance is expected going forward - dropping to $8 billion in 2027 and $7.9 billion in 2028.

This trend is driven by the gradual normalization of global commodity prices.

"ING's baseline scenario is based on the assumption that the average annual price of Brent crude oil in 2026 will remain at $87 per barrel. For 2027 and 2028, oil quotes are forecast to decline to $71 and $72 per barrel, respectively," the analytical report indicates.